A maximin strategy
A) maximizes the minimum gain that can be earned.
B) maximizes the gain of one player, but minimizes the gain of the opponent.
C) minimizes the maximum gain that can be earned.
D) involves a random choice between two strategies, one which maximizes potential gain and one which minimizes potential loss.
A
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Does the gross domestic product account measure the market value of all goods and services?
A) No, because that would include double-counting. B) Yes, because the data is readily available. C) Yes, except for illegally exchanged goods and services. D) Yes, otherwise the gross domestic product accounting system is not a reliable indicator of economic activity.
Refer to Scenario 13.9. The equilibrium of this game, if played only once, is that
A) both firms pollute. B) only Lago pollutes. C) only Nessie pollutes. D) neither firm pollutes. E) the firms choose a mixed strategy.